Why your firm might need adoption agency professional indemnity cover

May 1, 2009 · Filed Under Adoption Agency Professional Indemnity Cover · Comment 

When people think of insurance cover they typically think about theft or fire, but if we’re talking of business cover, other kinds eventuality need to be thought about. Running a business is increasingly also a bit of a legal minefield, depending on your field of work. Adoption agencies fall into this category as they are relying on delivering a professional service and to make judgements which may be criticised and even actioned upon. This means adoption agency professional indemnity cover is popular with some firms who are looking to minimise legal risks.

Professional indemnity protection is a type of insurance which activates should you need legal advice following a mistake you have made, your company has made, or has been accused of. This may seem rather obscure, but should a client feel you have made an error, they may decide to take legal action, particularly when you consider adoption is an emotive subject.

Sometimes referred to as PII, this kind of insurance simply pays your legal costs and even the total bill of any compensation which may be awarded against you as a result of legal action. Normally it will pay your legal bills up to an agreed limit or ceiling, so it is important to consider what level of adoption agency professional indemnity cover you need.

The normal circumstances covered include errors or omissions, allegations of acts of negligence, and even things like unintentional defamation or the dishonesty of any employees of an agency. Claims that an individual or a firm has breached confidence or copyright can also be covered for, so the spectrum of potential law-related problems which you can get protection for is quite varied.

In exchange you pay an adoption agency professional indemnity cover premium as you would do with any other insurance policy, but as mentioned before you will need to decide what limit is suitable for your agency. Too much, and you end up paying for a level of cover you do not need, but too little, and should you end up in a legal wrangle and go over your cover limit, you’ll be left to foot the bill. This can be considerable, particularly if the other side is awarded compensation.

Why choose an adoption agency professional indemnity cover policy?

April 1, 2009 · Filed Under Adoption Agency Professional Indemnity Cover · Comment 

For any business, legal concerns are a genuine trading risk, and in some industries this is more significant than others. Adoption agencies deal with particularly emotive issues, and if people feel they have been wronged or have fallen foul of a decision unfairly, they may take legal action. Defending a court case is often expensive prospect, so many firms choose to take out adoption agency professional indemnity cover.

This is essentially an insurance policy which should help protect your financial status in the event you face a legal dispute. Although they are hardly an everyday occurrence, lawsuits can be damaging when they do come around. Even claims which appear to have no basis need to be defended, and hiring legal help to do so can be expensive. Indemnity insurance pays out towards your legal fees in certain sets of circumstances. The most common situation will involve a mistake, omission, or act of negligence on the part of your business.

Allegations of errors therefore need not be a guarantee of financial hardship for a firm. Subject to conditions and an excess if applicable, adoption agency professional indemnity cover will cover your legal expenses and even any damages which happen to be awarded to a successful complainant. There will be limits on the policy as an insurance company cannot be expected to pay out indefinitely. But generally, this kind of policy can often ensure a business is able to carry on trading virtually as normal when facing a legal dispute.

Adoption agency professional indemnity cover also often protects against the likes of the loss or damage of a client’s data or documents. It also covers against some other hidden dangers, like allegations of defamation or breach of confidence or copyright. Indemnity cover has been associated mainly with architects, lawyers and private doctors, but it is an increasing necessity in a more legally-aware world. It need not cost the earth either, as you can agree excesses and limits with insurance companies which are appropriate to your business. Smaller companies will not need the type of policy that a larger perhaps multinational firm will, so there are often policies suitable for almost any size of agency.

Guard against legal risks with adoption agency professional indemnity cover

January 1, 2009 · Filed Under Adoption Agency Professional Indemnity Cover · Comment 

Getting all the right insurance cover in place is never a task that any business approaches with much relish. However the right protection is important, and an adoption agency professional can use insurance to help protect them against the threat of a court case if anything were to ever go wrong. Adoption agency professional indemnity cover is one option for anyone looking to avoid any legal slip ups.

Indemnity cover is a type of policy which is sometimes referred to as PII or professional Indemnity Insurance. It is taken out not just by adoption professionals but by many people who provide advice on a professional basis.

Insurance which protects you in the event of being sued has become more relevant over the last 10 years thanks to a more legally aware culture, resulting in a number of solicitors offering ‘no win no fee’ type services. Adoption agency professional indemnity cover protects the policyholder in the event they face a claim for compensation following a mistake or omission they have made.

For example, should a legal case arrive because potential parents feel they have been discriminated against in some way, and have not been successful in an application, many indemnity policies will pay for the legal costs of defending the action.

It also gives protection should someone face a claim that they have infringed someone’s copyright or accidentally defamed someone. It pays legal bills up to an agreed ceiling, and how much someone is entitled to after a successful claim varies. The amount is normally set when the policy is taken out, and smaller companies will only want protection up to a few thousand pounds, while larger firms have been known to take out protection for millions of pounds worth of legal fees.

Adoption agency professional indemnity cover will cover a policyholder whether or not the claim levelled against them turns out to be false, or is proved, and protection will also be provided right through the court process, from an initial hearing all the way up to the High Court if it gets that far. This can take away some of the worry about what would happen to a business if it had to pay large legal bills unexpectedly.